Wealthfront Advisers LLC Invests $10.98 Million in Aflac Incorporated $AFL

Wealthfront Advisers LLC bought a new stake in shares of Aflac Incorporated (NYSE:AFL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 93,648 shares of the financial services provider’s stock, valued at approximately $10,980,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Aflac by 64.4% in the fourth quarter. Brighton Jones LLC now owns 14,570 shares of the financial services provider’s stock worth $1,507,000 after buying an additional 5,708 shares during the last quarter. Bison Wealth LLC grew its holdings in shares of Aflac by 4.3% during the fourth quarter. Bison Wealth LLC now owns 4,402 shares of the financial services provider’s stock valued at $455,000 after buying an additional 183 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Aflac during the second quarter valued at approximately $280,000. Sei Investments Co. increased its position in shares of Aflac by 11.2% during the second quarter. Sei Investments Co. now owns 150,334 shares of the financial services provider’s stock valued at $15,854,000 after acquiring an additional 15,105 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its position in shares of Aflac by 1.6% during the second quarter. Main Street Financial Solutions LLC now owns 11,953 shares of the financial services provider’s stock valued at $1,261,000 after acquiring an additional 192 shares in the last quarter. 67.44% of the stock is currently owned by institutional investors.

Aflac Price Performance

Shares of NYSE:AFL opened at $116.48 on Thursday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $58.40 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.96 and a beta of 0.60. The firm’s 50 day moving average price is $121.59 and its 200-day moving average price is $116.09. Aflac Incorporated has a twelve month low of $104.66 and a twelve month high of $130.22.

Aflac (NYSE:AFL) last announced its earnings results on Thursday, August 6th. The financial services provider reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.01). Aflac had a net margin of 26.91% and a return on equity of 13.27%. The business had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same period in the prior year, the company posted $1.78 earnings per share. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. Equities research analysts expect that Aflac Incorporated will post 7.04 EPS for the current year.

Aflac Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, August 19th. Aflac’s dividend payout ratio is 26.15%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Mizuho set a $116.00 price objective on Aflac in a research report on Monday, August 10th. Weiss Ratings lowered Aflac from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, August 7th. Piper Sandler restated an “overweight” rating and issued a $138.00 price target (up from $130.00) on shares of Aflac in a research note on Monday, August 10th. JPMorgan Chase & Co. lowered their price target on Aflac from $117.00 to $116.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Finally, Barclays restated an “underweight” rating and issued a $99.00 target price (up from $98.00) on shares of Aflac in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Aflac currently has an average rating of “Hold” and a consensus target price of $116.62.

Insider Buying and Selling at Aflac

In related news, Director Joseph L. Moskowitz sold 600 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $124.10, for a total value of $74,460.00. Following the transaction, the director directly owned 32,710 shares of the company’s stock, valued at approximately $4,059,311. This trade represents a 1.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Post Holdings Co. Ltd. Japan sold 13,900 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $121.33, for a total value of $1,686,487.00. Following the sale, the insider directly owned 50,844,690 shares of the company’s stock, valued at $6,168,986,237.70. This represents a 0.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 507,333 shares of company stock valued at $59,450,256 over the last 90 days. 0.80% of the stock is currently owned by company insiders.

About Aflac

Aflac Incorporated (American Family Life Assurance Company of Columbus) is a provider of supplemental insurance products designed to help policyholders manage out-of-pocket health care and living expenses. The company underwrites a range of individual and group policies that typically pay cash benefits directly to insureds when covered events occur, enabling greater financial flexibility for medical treatment, hospital stays, critical illness, and related costs. Aflac’s product mix includes supplemental health insurance, life insurance and other specialty coverages intended to complement primary medical plans.

Founded in the mid-20th century and headquartered in Columbus, Georgia, Aflac distributes its products through a combination of employer-sponsored programs, independent brokers and agents, and direct marketing.